The Nigerian stock market extended its bullish run on Thursday, adding roughly N3.36 trillion to portfolio values ahead of the May 1 Workers’ Day holiday. Total market capitalization rose from an opening N152.728 trillion to a close of N155.994 trillion, while the All‑Share Index advanced from 237,205.59 to 242,277.81 points.
Market breadth was positive, with 46 stocks finishing in the green against 40 decliners. Blue‑chip issuers led the rally, as CAP, FTN Cocoa, UACN, Unilever and Seplat each posted a maximum daily gain of 10.00 percent. The strong performance reflects renewed investor confidence after a brief bearish spell earlier in the week.
Among the laggards, Alex recorded the steepest fall, sliding 9.95 percent to close at N9.50 per share. Royal Exchange and Legend Identity also posted notable declines, down 9.93 percent and 9.32 percent respectively.
Media Talk Africa notes that the Nigerian Exchange has now sustained an upward trajectory for two consecutive sessions, reversing the downward momentum recorded at the start of the week. The latest gains come amid a broader regional trend of optimism in emerging markets, bolstered by steady commodity prices and a favourable foreign‑exchange environment.
The market’s resilience is significant for both domestic and foreign investors. The continued rise in the All‑Share Index suggests that liquidity remains robust, while the diversification of gainers across sectors indicates a broad-based recovery rather than isolated spikes. Analysts point to the upcoming holiday as a potential pause in trading activity, but the underlying fundamentals—such as improving corporate earnings and steady inflows of capital—could support further advances when markets reopen.
Investors will be watching forthcoming macroeconomic data, including inflation trends and monetary policy signals from the Central Bank of Nigeria, for cues on the sustainability of the current rally. With the next trading session set to resume after the holiday, market participants are likely to gauge whether the recent momentum can be maintained amid any emerging risks.
